He says television revenues of Champions League clubs like PSV or Feyenoord are "eight to ten times more" than the other sides in the Dutch first division.

Van Raaij also says there is widespread support around Europe's smaller countries for the idea, despite the extra travelling time and the lack of a common history between the participants.

Atlantic meeting: PSV and Benfica met in the 1988 European Cup final

"I have spoken with Ajax, Feyenoord, Porto, Rangers and Celtic," he said. "They are interested, especially Celtic who are very interested."

A meeting to discuss the plan is scheduled for February, although Van Raaij believes 2002 is the earliest possible start date.

The PSV president also admitted that European governing body Uefa would also have to be consulted about the matter, although McDonald says time is limited.

"The problem is that the pace of change is so fast at the moment in Europe," he explained.

"There is a circle of success, and there is one of failure," he added.

"The moment Celtic fans become disillusioned with the lack of success, and stop supporting the team in the numbers they do, we are in that circle of failure, because we need revenue to achieve success."